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The cost of a good or service.

7 votes

Why do gas stations charge different amounts in the same local area?

When I ran a gas station, our price was largely set by our neighbors-- the other gas stations in the area. … So, you'd get these ripples of price-changing, as one station changed its price, and then all its neighbors would react to that the next day, and then THEIR neighbors would change the day after that, and …
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